16)Which one of the following is not the underlying principles of the corporate governance?

Fairness

Acceptability

Accountability

Transparency

17)The recommendations applicable to the accounts and audit includes:

a) The board should present a balanced and understandable assessment of the company's position and prospects

b) The board should maintain a sound system of internal control to safeguard shareholders' investment and the company's assets.

c) The board should, at least annually, conduct a review of the effectiveness of internal controls and should report that they have done so.

d) The board should establish formal and transparent arrangements to consider how they should apply the financial reporting and internal control principles and for maintaining an appropriate relationship with the auditors

All a) , b) , c) and d)

Only b) , c) and d)

Only a) , b) and d)

Only a) , b) and c)

18)The manager of ABC SAOG is presently out of country for business purpose. The company has produced photocopies of fixed deposits receipts. The original fixed deposit receipts were kept in the locked iron safe of the manager. As an auditor what step can be taken?

Mention the case in the auditors opinion

Obtain external confirmation from bank manager

Modify the audit report

Withdraw from the audit if legally permissible